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In order to support its economy, China has announced recently further cuts in taxes for both individuals and businesses and is spurring banks to extend loans to SMEs. These changes concern Individual Income tax, Enterprise Income Tax, customs duties, VAT and also social contributions.
What is the impact of these tax reforms on your business, how can your business benefit from these changes? Is it easier to get financing from banks? As these changes go hand in hand with a stricter compliance, how the businesses need to adapt to this changing environment?
